Re: Seeking wisdom and advice

Posted by Valarie (67.42.204.181) on July 30, 2004 at 21:31:01:

In Reply to: Seeking wisdom and advice posted by Newbie2CA'sBS on July 30, 2004 at 21:10:00:

I dont know what state you live in, but if you claim bankrupcy you will be able to keep you car I dont know who told you differant, just because you are paying on something doesnt mean you can keep it, this isnt a judgement to collect money from a crediter if you sit around and wait and they take you to court you will lose your car and possiably your house even though you are paying on it, they will sell your house, pay the money that you owe to the creditor that sued you and then the remainder would go to the bank, and yep you will still owe monthly payments on a house. Your sons education put it in your mothers name or something that will get it out of your hands and they cant touch it. I would seek BK in this case rather then sit and wait till they take you to court, anything that goes on before BK as far as collecting a debt with collateral can be done before the filing of the BK. I would talk to a lawyer and I would seriously not sit around on a credit card that is 27K and wait till they take action. On your house with a Bk you can reafirm this is when you tell the bank that you want to still pay on it and keep the terms most companies go along with this however they have the right to take it, the chances though are very small. Speak to a lawyer immeditaly. And I suggest you dont file this yourself, get a lawyer some people who file bankrupcy themselves, get a bankrupcy but end up with more payments then they had before they went in do to faults in paper work and so on. So I would suggest a lawyer with anything this big.

Take care and goodluck

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